Then my calculations were accurate with a 1:1 (or 50%), and I have in fact proven negative expectancy in your system. The 64.39% is calculated as risk that you wipe out your gains before acquiring the necessary profit to break even in the event of ...

Martingale... How to make it WORK for YOU!

Let's put the parts of the puzzle together. 1) Martingale as a raw system does not work long term. You will lose all of your money in an account you do martingale with eventually. 2) Your system uses martingale in segmented bits. Think of them as ...

Martingale... How to make it WORK for YOU!

No amount of money management is going to make martingale viable as a long term strategy. Playing like you're doing is just like bankrupting a bunch of small accounts except you can "buy in" again with your reserve funds. If martingale can't work ...

Martingale... How to make it WORK for YOU!

Bad idea in my opinion unless 1.3020 breaks, in which case you're better off waiting for a re-test of that level because the strong top formation is very bearish. Going long at your level would be throwing yourself into supply. If it does break ...

No Brainer Trades

I had noticed that volume typically spiked with large moves, but figured that this was to be expected. I'll have to pull out my volume tool next week and keep an eye on it live - interesting insight. Always something to learn from your high quality ...

How do I see volume?

Keep in mind that classic volume profiles don't exist in forex like they do in most equities and commodities with a central exchange. The best you can do in forex is use tick volume, which doesn't seem to be very useful.

How do I see volume?

Hey I understand where you're coming from, I really do. I was there not long ago and quit for a while in frustration. But take a look at the charts yourself sometime. It was a real eye opener when I started seeing all these reactions. At first I ...

EURUSD

This is why I keep things basic and to the most commonly used tools. Nothing works all the time, but these key levels work often enough when combined with other influences such as round numbers, fib levels, trend lines, that they provide a very ...

EURUSD

Sleep well.

EURUSD

That looks like a lower time frame chart; the lower time frames have very few precise levels from what I've observed as they are constantly overrun with volatility and have little opportunity to be recognized in order for buy or sell stacks to ...

EURUSD

The most popular methods of TA work because they are the least ambiguous and the most commonly used. When you apply technical analysis in the form of obvious support and resistance levels where price has historically reacted with major swing fib ...

EURUSD

Thanks, that means a lot coming from such an esteemed user as yourself. Fear of loss is something I've had to work to overcome and I'm still not quite there yet. What are you implying?

EURUSD

I'm not sure why you're trying to do this either way...your stop loss should be located someplace that tells you that you were wrong in your call. Put up your risk at your entry, and if you're wrong you're wrong. Don't throw good money after bad in ...

Taking more than one position

Oops, my mistake, I meant shorts. You were complaining about them a few days ago. S&R and fib levels hold quite frequently, actually, especially in confluence situations. Predicting direction is something I don't generally care about although I ...

EURUSD

For your sake I hope you've found an opportunity to liquidate your longs then. Personally I'm not sure what it's going to do...will short 1.3020 again if it reaches, stopped out earlier with only 20 pips. Picking entries has become much easier but I ...

EURUSD

Holding short as long as resistance holds between levels.

EURUSD

When you can identify the major levels, it does just as well to jump on it the first time. Wrong? Wait for price to re-test on the other side. Waiting for price action setups to verify requires one to sit at the screen all day, something not all of ...

EURUSD

I guess to answer your question better it just depends on what you're targeting. If you have a good risk/reward and a plan then there's nothing wrong with that, just be sure to keep an eye on how price action is behaving at key levels in the market.

EURUSD

Trends are kind of subjective as the market is fractal....unless you play on weekly charts you're probably betting against some longer term trend.

EURUSD

Sounds reasonable. I'm not married to a bias, I pretty much just trade at what look like strong points and then take what I can get out of them. Thanks for sharing your thoughts.

EURUSD